The Goldfinger Group Acquires Multifamily Property In Santa Monica For $2.9M

The property involved in this closed transaction is a multifamily asset located at 2601 14th St. in Santa Monica. The property consists of 8 units, with a total square footage of 5,519. The sale price for this transaction was $2,875,000, resulting in a price per unit of $359,375. The price per square foot for this property is $520. The Gross Rent Multiplier (GRM) for this transaction is 13.38, and the Cap Rate is 5.31%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,875,000
• Units: 8
• Price per Unit: $359,375
• Square Footage: 5,519
• Price per Square Foot: $520
• Market: Santa Monica

The buyer in this transaction is The Goldfinger Group, represented by Elijah Korobkin and Maxx Feldman. The seller is the Dennis Crane Trust. The brokers involved in this deal are Chris Tresp and James Keady from CBRE.

Note from The Goldfinger Group: TGG currently needs to deploy $7mm in exchange funds, and ready to buy up to $20mm in properties. Please send all deals to Elijah ([email protected]) & Maxx ([email protected]).